Stimulating Growth through Managed Innovation and Change

Stimulating Growth through Managed Innovation and Change

Innovation

“the process of making changes in something established by introducing something new”

Products

Processes

Services

Expenditure

Goals

Problem

• Between 50-70% of all Innovation fails to impact on organisational goals *

• Implications …– Wasted resources – time, people and money– Loss of morale– Higher resistance

*Various. See: Paul Strebel in Harvard Business Review on Change 139-157 (Harvard Business Review, Boston, 1999)

Primary Causes

• Poor definition of goals • Poor alignment of actions to goals• Poor participation by employees in teams• Poor monitoring of results• Poor communication and community

iTeams• Solutions for managing:

GOALS, ACTIONS, TEAMS and RESULTS and COMMUNITY

• Combining Management Techniques of

– Strategic & Hoshin Planning– Performance Measurement– Action & Project Management

Innovation Funnel

ACTIONSACTIONSRESULTSRESULTS

GOALSGOALS

TEAMS COMMUNITY

iTeams Modules

…and more to fit precise user requirements

Session Programme

• Demo of innovation for Entrepreneurship

• Demo of innovation in Large Enterprise

• Demo of innovation for SMEs

• Innovation Workshop– ‘hands-on’ practice of core innovation

principles

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New venture failures

• An estimate of only 20% of new ventures will survive after five years*.

• Reasons– Poor business planning– Poor role of the venture capitalist– Poor business opportunity recognition– Poor marketing– Poor role of management*Various. See: Harvard Business Review Entrepreneurship;Businessweek.

New Ventures

Planning

Marketing

Teams & Leadership

Opportunity Recognition

Innovation for Support Agencies

– Demo of Entrepreneurship– By David Mulligan

– LocalPlanner to support start ups

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Innovation for Large Enterprises

Demo of FrameworkX at Hewlett Packard

By Phil Evans

http://www.cim.nuigalway.ie/iTeams

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Innovation for SMEs

Demo of InnovationChannel

By Barry O’Sullivan

http://www.innovationchannel.net

Slides

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Innovation Workshop

• Complete the following three tasks,

• Individually or working as a team,

• Own organisation or for yourself!

Step 1. Define your Goals

Identify and populate your most important Goals. Goals are defined as the objectives of your effort also known as strategies or visions (e.g. Grow Market Share).

Step 2. Define your Actions

Identify and populate your most important Actions. Actions are defined as expenditure of your effort and are also known as projects or tasks (e.g. Promote website).

Step 3. Link Goals with Actions

You can indicate the strength of the relationship between each Action and Goal. An empty box indicates no relationship; a half full box indicates a partial relationship; and a full box indicates a strong relationship (i.e. completing the Action will have a high impact on attaining that particular Goal).

Step 4. Indicate the status of your Goals and Actions

Continuously monitor and report the status of goals and actions. In this case, Red indicates that urgent attention is required, Yellow indicates that more work is needed and Green indicates that the Goal or Action requires no immediate attention

Actions

Goals

Increase Sales Revenue

Reduce Overheads

Grow Market Share

Improve Profitability

IT T

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ing

Online

/ Web

sal

es

J.I.T

Sto

ck S

yste

m

Product

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anag

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t Sys

tem

Inst

all B

road

band

Web

Bas

ed M

arke

ting In

itiat

ive

Update

Hardwar

e /

Softwar

e

Reduce Stock Levels

Improve Technologies Capabilities

Expand Product Portfolio

Tutorial

Task #1

• Define ‘goals’ for your organisation or for yourself– E.g.

• Increase sales revenue

• Reduce overheads

• Grow Market Share

• Improve Profitability

• Reduce Stock Levels

Task #2

• Define ‘actions’ for your organisation or for your self– E.g.

• Customer/Consumer specific website development

• Inventory Management / Stock Control System

• IT Training

• Online / Web sales (ordering)

• Web based marketing initiative

• Computer Integrated Telephony

• J.I.T. Stock System

Task #3

• Indicate the relationship between your ‘goals’ and your ‘actions’– Use ‘check mark’ or circles

• Which ‘goals’ have no ‘actions’

• Which ‘actions’ have no ‘goals’

Task #4

• Indicate the ‘status’ of your ‘goals’ and your ‘actions’– E.g. use a ‘smiley face’ or ‘sad face’

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